Urban Outfitters (URBN)

Shareholder proposals for the 2007 Annual Meeting of Shareholders must comply with applicable Securities and Exchange Commission rules and regulations and
must be received by the Secretary of the Company prior to December 22, 2006 to be considered for inclusion in the Companys Proxy Statement for that meeting. If the December 22, 2006 deadline is missed, a shareholder proposal may
still be submitted for consideration at the 2007 Annual Meeting of Shareholders, although it will not be included in the Proxy Statement, if it is received no later than March 7, 2007. If notification of a shareholder proposal is not received
by March 7, 2007, the Company may vote, in its discretion, any and all of the proxies received in its solicitation against such proposal.

Shareholder proposals for the 2006 Annual Meeting of Shareholders must comply with applicable Securities and Exchange
Commission rules and regulations and must be received by the Secretary of the Company prior to December 26, 2005 to be considered for inclusion in the Companys Proxy Statement for that meeting. If the December 26, 2005 deadline is missed, a
shareholder proposal may still be submitted for consideration at the 2006 Annual Meeting of Shareholders, although it will not be included in the Proxy Statement, if it is received no later than March 10, 2006. If notification of a shareholder
proposal is not received by March 10, 2006, the Company may vote, in its discretion, any and all of the proxies received in its solicitation against such proposal.